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American Hotel Income Properties REIT LP Files Final Prospectus and Upsizes Initial Public Offering to Cdn$87.0 Million

/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA./

VANCOUVER, Feb. 13, 2013 /CNW/ - American Hotel Income Properties REIT
LP ("AHIP") announced today that it has filed, and obtained a receipt
for, a final prospectus for the initial public offering of 8,700,000
limited partnership units ("Units") with the securities commissions of
all provinces and territories in Canada.

The Units will be issued at a price of Cdn$10.00 per Unit (the "Offering
Price") and are expected to provide unitholders with an annual yield of
9.0%. The gross proceeds of the offering are expected to be
approximately Cdn$87.0 million.

"Due to strong investor demand, the transaction has been upsized from
Cdn$75 million to Cdn$87 million" said Robert O'Neill, AHIP's Chief
Executive Officer. "This will help enable AHIP to pursue accretive
hotel acquisitions in a timely manner and also provides additional
working capital towards the growth of the existing properties".

The offering is being underwritten by a syndicate of underwriters co-led
by Canaccord Genuity Corp. and National Bank Financial Inc. and
including TD Securities Inc., BMO Nesbitt Burns Inc., CIBC World
Markets Inc., Scotia Capital Inc., Dundee Securities Ltd., GMP
Securities L.P., Macquarie Capital Markets Canada Ltd., Burgeonvest
Bick Securities Limited and Haywood Securities Inc. AHIP has granted
the underwriters an over-allotment option, exercisable for a period of
30 days following the closing, to purchase up to an additional
1,305,000 Units at the Offering Price which, if exercised in full,
would increase the total gross proceeds of the offering to
approximately Cdn$100.1 million. The offering is expected to close on
or about February 20, 2013.

The Toronto Stock Exchange (the "TSX") has conditionally approved the
listing of the Units under the symbol "HOT.UN", subject to the
fulfillment of all the requirements of the TSX.

AHIP intends to make monthly cash distributions to its unitholders at a
rate of Cdn$0.075 per Unit, which are initially expected to provide an
annual yield of 9.0%. The first cash distribution, which will be for
the period from the date of closing of the offering to March 31, 2013,
is expected to be paid on or about April 15, 2013 to unitholders of
record on March 29, 2013, in an amount estimated to be Cdn$0.096 per
Unit (assuming the closing occurs on February 20, 2013). Copies of the
final prospectus are available under AHIP's profile on SEDAR at www.sedar.com.

These securities have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and may not be
offered or sold in the United States of America without registration or
an applicable exemption from the registration requirements of that Act.
This news release does not constitute an offer for sale of these
securities in the United States of America.

Forward-Looking Information

This press release contains forward-looking information within the
meaning of applicable securities legislation, which reflects AHIP's
current expectations regarding future events. Forward-looking
information is identified by the use of terms and phrases such as
"anticipate", "believe", "could", "estimate", "expect", "intend",
"may", "plan", "predict", "project", "will", "would" and similar terms
and phrases and includes, but is not limited to, the amount of the
expected monthly cash distributions and annual yield for the Units, the
timing of the payment of the first cash distribution to unitholders,
gross proceeds of AHIP's initial public offering, use of proceeds from
the upsizing of the offering and the closing date of the offering.
Forward-looking information is based on a number of assumptions and is
subject to a number of risks and uncertainties, many of which are
beyond AHIP's control, that could cause actual results and events to
differ materially from those that are disclosed in, or implied by, such
forward-looking information. Such assumptions include, but are not
limited to, a reasonably stable North American economy and stock
market. Such risks and uncertainties include, but are not limited to,
failure to complete the initial public offering of Units and related
transactions and the factors discussed under "Risk Factors" in the
final prospectus of AHIP dated February 12, 2013. The forward-looking
information contained herein is made as of the date of this press
release and, except as expressly required by applicable law, AHIP
assumes no obligation to publicly update or revise such information,
whether as a result of new information, future events or otherwise.

About American Hotel Income Properties REIT LP

AHIP has been formed to indirectly own and acquire hotel properties in
the United States. On closing of the initial public offering, AHIP will
indirectly acquire a portfolio of 32 hotel properties located in 19
U.S. states. AHIP's long-term objectives will be to: (i) generate
stable and growing cash distributions from hotel properties
substantially in the United States; (ii) enhance the value of its
assets and maximize the long-term value of the hotel properties through
active management; and (iii) expand its asset base and increase its
Adjusted Funds From Operations ("AFFO") per Unit through an accretive
acquisition program, participation in strategic development
opportunities and improvements to the properties through targeted
value-added capital expenditure programs.

Additional information relating to AHIP, including the final prospectus
and other public filings, is available on SEDAR at www.sedar.com and will be available on AHIP's website at www.ahipreit.com.